Hedge funds
Simmons & Simmons’ superb practice continues to have the edge over the competition. The standalone team offers a first-class, cradle-to-grave service, including day-to-day advice, regulatory work, fund formation, and restructuring, which has become increasingly relevant in today’s market. The firm is advising close to 100 funds on issues relating to the collapse of Lehman Brothers, and also advised Altima on the restructuring and relaunch of several of its funds. Steven Whittaker, Richard Perry, Neil Simmonds and Iain Cullen all come highly recommended.
Dechert LLP’s superb practice is jointly headed by partners Peter Astleford and Stuart Martin, and is backed up by a first-class offering in the US. Major clients include ETF Securities, Cheyne Capital, and Amber Master.
Schulte Roth & Zabel International LLP boosted its already strong team with the recruitment of partner Nick Terras from McDermott Will & Emery UK LLP, as well as the arrival of partner Josh Dambacher from the firm’s New York office. Backed up by a superb US practice, Christopher Hilditch’s team attracts an impressive array of clients, including Arrowgrass, NewSmith and Marble Bar.
Akin Gump Strauss Hauer & Feld’s impressive London team covers both the UK and US markets, with US-qualified head David Billings working alongside dual-qualified partners Robert Griffin and Christopher Gorman-Evans, and UK partner Simon Thomas. The firm recently advised UFG on the sale of a 40% interest in its domestic Russian asset management business to an affiliate of Deutsche Bank.
A highlight for Herbert Smith LLP’s impressive practice was advising the Hedge Fund Working Group on its report into best practice in the hedge fund industry, and the firm also advises its successor the Hedge Fund Standards Board. Nigel Farr, Thiha Tun and Scott Cochrane are recommended.
Bruce Gardner and David Hinds are the key partners in Sidley Austin LLP’s burgeoning practice. The firm handles a range of matters for an impressive list of clients including Triple A Partners, James Caird Asset Management, and Thames River Capital.
Matt Huggett and John Goodhall are the two main partners at Allen & Overy LLP. Recent highlights include advising Citibank Alternative Investments on establishing their first fund investing in bank debt.
While Linklaters LLP has no partners specialising in hedge funds, the firm has frontline experience, most notably through its advice to PwC as administrators of Lehman Brothers, which will have major implications on prime brokerage relationships. Managing associate Matt Keogh is developing a good name.
Lovells LLP has been advising Martin Currie China ‘A’ Share Limited on a complex restructuring following the administration of Lehman Brothers in China. Erik Jamieson is highly recommended.
SJ Berwin LLP partners Victoria Younghusband and Ajay Pathak are both very active. A major highlight was advising Castle Alternative Invest on its application for a joint primary listing on the London Stock Exchange.
Weil, Gotshal & Manges is noted for transactional and convertible debt restructuring work, an area in which the ‘excellent’ Tony Horspool has a good track record. Major clients include Cerberus, Cheyne Capital, Eton Park and Oaktree. Peter Schwartz and James Cole are also recommended.
Berwin Leighton Paisner LLP recently advised 360 Asset Management on the establishment of a Japan Long Short Fund. Partners Peter McGowan and Pollyanna Deane are highly recommended.
Bingham McCutchen (London) LLP is highly rated for transactional and restructuring work. Vance Chapman and John Clark have excellent track records advising the likes of Elliott Advisors, Dexion and SISU Capital Partners.
Jason Glover at Clifford Chance acted on several fund offerings, such as for EQT on the €500m EQT Public Value Fund, and Butler Capital Partners on the WB Opportunities Fund.
Katten Muchin Rosenman Cornish LLP name partner Martin Cornish is the main contact for hedge funds work.
Kaye Scholer LLP recently advised Threadneedle Asset Management on the launch of two offshore and US master feeder hedge funds. Simon Firth and Timothy Spangler are recommended.
Mayer Brown International LLP has a strong reputation on the transactional side, thanks to the expertise of William Charnley. Active clients include Laxey Partners, Mason Capital and Polygon.
The hugely experienced Bill Murdie at Shearman & Sterling LLP has an excellent reputation and has been advising hedge funds on renegotiating prime brokerage agreements. The firm acts for several major distressed debt funds.
Richard Spedding’s ‘first-class’ and versatile team at Travers Smith LLP gets excellent feedback from clients, who commend its ‘value for money, response times, understanding of the issues and cost’, and ‘strength of expertise in the regulatory field’.